Polymetal Q1 Gold Production Up 41%

Polymetal International plc (POLY.L) reported that its gold production for the first-quarter rose 41% to 302 thousand ounce from last year, while silver production decreased 15% due to the planned grade decline at the Dukat underground mine. The share of gold production increased to 81% of the Group's total output.

Quarterly gold equivalent production grew 27% year-on-year to 374 thousand ounce as Kyzyl exceeded design throughput and recovery and enjoyed positive grade reconciliation. Meanwhile, a grade-driven increase in production at Omolon offset the disposals of Okhotsk and Kapan.

Gold equivalent production from continuing operations was 369 thousand ounce, up 37% year-on-year.

Revenues for the quarter increased 28% year-on-year to US$454 million, largely driven by a 41% uptick in gold sales compared to the prior year.

Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection.

Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020.

While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019.
For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...